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Transactions and Balances with Related Parties | 12 Months Ended
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Dec. 31, 2023
Transactions and Balances with Related Parties [Abstract] |
Transactions and balances with related parties |
20. | Transactions and balances with related parties
| a. | Transactions with related parties, carried out in the ordinary course of business, were as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Holding company |  |  |  |  |  |  |  |  |
Interest income |  |  | 79,473 |  |  |  | 55,848 |  |  |  | 34,447 |
Management staff |  |  |  |  |  |  |  |  |  |  |  |
Administrative services expenditures |  |  | 133,970 |  |  |  | 275,063 |  |  |  | 113,018 |
Other related parties |  |  |  |  |  |  |  |  |  |  |  |
Sales |  |  | 631,770 |  |  |  | 392,531 |  |  |  | 391,664 |
Purchases |  |  | 220,884 |  |  |  | 253,931 |  |  |  | 40,081 |
Direct short-term benefits (*) |  |  | 113,773 |  |  |  | 120,151 |  |  |  | 78,321 |
| (*) | Correspond to the salaries, allowances and bonuses paid to the executives of Simec.
| b. | Balances receivable from and payable to related parties are as follows:
|  | December 31, |
|  | 2023 |  |  | 2022 |
Short-term |  |  |  |  |  |
Accounts receivable: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. |  | $ | 62,055 |  |  | $ | 62,055 |
Cía. Laminadora Vista Hermosa, S.A. de C.V. |  |  | 628 |  |  |  | 974 |
Operadora Compañía Mexicana de Tubos, S.A. de C.V. |  |  | 719 |  |  |  | 824 |
Compañía Manufacturera de Tubos, S.A. de C.V. |  |  | 4 |  |  |  | 2,799 |
Cía. Tubos y Perfiles Monterrey, S.A. de C.V. |  |  | 3,318 |  |  |  | 3,371 |
Operadora Perfiles Sigosa, S.A. de C.V. |  |  | 4,108 |  |  |  | 3,999 |
Operadora Construalco, S.A. de C.V. |  |  | 518 |  |  |  | 606 |
Aceros y Laminados Sigosa, S.A. de C.V. |  |  | 1,638 |  |  |  | 16,473 |
Arrendadora Norte de Matamoros, S.A. de C.V. |  |  | 1,294 |  |  |  | 1,294 |
Comercializadora Sigosa, S.A. de C.V. |  |  | 2,080 |  |  |  | 0 |
Joist del Golfo, S.A. de C.V. |  |  | 2,582 |  |  |  | 2,582 |
Holding Protel, S.A. de C.V. |  |  | 30 |  |  |  | 304 |
Aceros CH, S.A. de C.V. |  |  | 172 |  |  |  | 130 |
Sigosa Aceros, S.A. de C.V. |  |  | 0 |  |  |  | 14 |
Siderúrgicos del Golfo, S.A. de C.V. |  |  | 332 |  |  |  | 832 |
Perfiles Comerciales Sigosa, S.A. de C.V. |  |  | 4,125 |  |  |  | 4,125 |
Pytsa Industrial de México. S.A. de C.V. |  |  | 438 |  |  |  | 438 |
Ferrovisa, S.A. de C.V. |  |  | 19,225 |  |  |  | 0 |
Acertam, S.A. de C.V. |  |  | 785 |  |  |  | 785 |
Servicios Estructurales, S.A. de C.V. |  |  | 3,241 |  |  |  | 3,047 |
Industrial Mexicana de Herramientas, S.A. de C.V. |  |  | 739 |  |  |  | 0 |
Others |  |  | 152 |  |  |  | 151 |
|  | $ | 108,183 |  |  | $ | 104,803 |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Long-term |  |  |  |  |  |
Accounts receivable: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. |  | $ | 648,281 |  |  | $ | 648,281 |
|  | $ | 648,281 |  |  | $ | 648,281 |
Loans to related parties: |  |  |  |  |  |  |  |
Industrias CH, S.A.B de C.V. |  | $ | 1,044,318 |  |  | $ | 959,153 |
Perfiles Comerciales Sigosa, S.A. de C.V. |  |  | 125,612 |  |  |  | 145,910 |
|  | $ | 1,169,930 |  |  | $ | 1,105,063 |
Total, long-term |  | $ | 1,818,211 |  |  | $ | 1,753,344 |
The account receivable with Industrias CH, S.A.B. de C.V. corresponds mainly to ISR balances to be recovered, due to the fact that some companies consolidated ISR for tax purposes until 2013 with this company. Loans: As of December 31, 2022, including the loan in USD converted to pesos, they were as follows, $707,851 plus interest of $217,357, plus IVA of $33,945, resulting in a total of $959,153. As of December 31, 2023, the balance increased due to interest plus VAT corresponding to fiscal year 2023. As of December 31, 2023 and 2022, there is a balance pending collection derived from loan interest with Perfiles Comerciales Sigosa, S.A. of C.V. for $125,612 and $145,910 respectively, equivalent in dollars to (USD $7,536,068). As of December 31, 2023, the balance decreased due to a payment that was made during the year.
|  | December 31, |
|  | 2023 |  |  | 2022 |
Accounts payable: |  |  |  |  |  |
Aceros y Laminados Sigosa, S.A. de C.V. |  | $ | 4,143, |  |  | $ | 24,455 |
Industrias CH, S.A.B. de C.V. |  |  | 214,671 |  |  |  | 245,388 |
Perfiles Comeciales Sigosa, S.A. de C.V. |  |  | 3,802 |  |  |  | 3,802 |
Holding Protel, S.A. de C.V. |  |  | 399 |  |  |  | 251 |
Compañia Laminadora Vista Hermosa, S.A. de C.V. |  |  | 520 |  |  |  | 518 |
Operadora Perfiles Sigosa, S.A. de C.V. |  |  | 2,800 |  |  |  | 2,800 |
Operadora Pytsa Industrial, S.A. de C.V. |  |  | 7,933 |  |  |  | 8,353 |
Compañía Industrial Mexicana, S.A. de C.V. |  |  | 570 |  |  |  | 0 |
Compañia Manufacturera de Tubos, S.A. de C.V. |  |  | 13,345 |  |  |  | 9,837 |
Operadora Compañia Mexicana de Tubos, S.A. de C.V. |  |  | 6,924 |  |  |  | 7,583 |
Sigosa Aceros, S.A. de C.V. |  |  | 0 |  |  |  | 7 |
Cía. Mexicana de Perfiles y Tubos, S.A. de C.V. |  |  | 595 |  |  |  | 595 |
Industrias Procarsa, S.A. de C.V. |  |  | 139 |  |  |  | 139 |
Ferrovisa, S.A. de C.V. |  |  | 577 |  |  |  | 7,069 |
Other |  |  | 123 |  |  |  | 195 |
|  | $ | 256,541 |  |  | $ | 310,992 |
These balances correspond to accounts payable for services and/or purchases of finished products specific to your activity.
Loans from related parties: |  |  |  |  |  |
Operadora de Perfiles Sigosa, S.A. de C.V. |  | $ | 2,498,714 |  |  | $ | 2,381,464 |
|  | $ | 2,498,714 |  |  | $ | 2,381,464 |
|  | $ | 2,755,255 |  |  | $ | 2,692,456 |
This balance corresponds to a current account loan granted by Operadora de Perfiles Sigosa, S.A. de C.V. (Sigosa), to be invested in Treasury Bonds; the interest derived from said investment upon expiration thereof, will be delivered to Sigosa.

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